There is no doubt that the psychedelic space is gaining momentum, and for investors, it is a perfect time to get in before the industry takes off.Â
As groundbreaking research continues to back up claims of the effectiveness of psilocybin for mental health conditions, psychedelics are poised to become the next big thing in mental healthâand are catching the eye of investors in Canada and around the world.
If you are caught wondering which the best stocks are worth your money, look no further than the following companies.HAVN Life SciencesÂ
Looking to add a booming Canadian company to your portfolio? Vancouver-based HAVN Life Sciences (CSE:HAVN) is at the forefront of the psychedelic space on the west coast, and just went public last year.Â
The companies mission is to âunlock human performance using evidence-informed researchâ and has developed a line of naturally-derived formulations to help those with PTSD and other trauma-related disorders.
HAVN extracts psychoactive compounds from plants and fungi using standardized, quality-controlled processes and has developed seven natural health formulations launching in retailers in Canada and the US this spring.Field Trip Health
Psychedelics producer and mental wellness company Field Trip Health (CSE:FTRP) has officially gone public and is making a lot of noise in the psychedelics space. The company, which has clinics in Toronto, LA, and New York, currently uses ketamine-based therapy and, once legal, plans to expand into psilocybin and MDMA.
Field Trip has ambitious plans to open at least 75 new clinics throughout North America within the next four years. The company plans to not only provide mental health support and therapeutic treatments but also to collect data for analysis for research and development.Compass PathwaysÂ
With a rigorous and large-scale clinical development program across Europe and North America, UK-based mental health care company Compass Pathways (NASDAQ:CMPS) is another psilocybin company to get excited about.Â
One of the biggest reasons to invest in Compass is that it owns the patent for a synthetic form of psilocybin for treating drug-resistant depression. As most of its competitors are trialling organic versions of psilocybin, this creates a leading edge for the company.Mind MedicineÂ
Mind Medicine (OTCQB:MMEDF), aka MindMed, is a psychedelic medicine biotech company that develops and sells medicinal psychedelics for conditions like anxiety, seasonal affective disorder, and ADHD.
What sets MindMed apart from its competitors is its vast array of drugs it has on offer, including substances like LSD, MDMA, and magic mushrooms. Even Shark Tanks Mr Wonderful aka Kevin OLeary is psyched about its potential, saying âThis could save lives, cure depression, help alcoholism, get people off opioidsâwhy wouldnt I want to be invested?â